TBILLYIELD

Updated 2023-10-05 20:01:45.133000

Syntax

SELECT [westclintech].[wct].[TBILLYIELD] (
  <@Settlement, datetime,>
 ,<@Maturity, datetime,>
 ,<@Pr, float,>)

Description

Use the scalar function TBILLYIELD to calculate the yield for a Treasury bill

Arguments

@Settlement

the settlement date of the security. @Settlement is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@Pr

the security’s price per 100 face value. @Pr is an expression of type float or of a type that can be implicitly converted to float.

@Maturity

the maturity date of the security. @Maturity is an expression that returns a datetime or smalldatetime value, or a character string in date format.

Return Type

float

Remarks

If @Pr <= 0 TBILLYIELD returns an error.

If @Settlement >= @Maturity TBILLYIELD returns an error.

If @Maturity is more than 1 year after @Settlement TBILLYIELD returns an error

The following formula is used: TBILLYIELD = (100-@Pr) / @Pr*360/DSM

WhereDSM is the number of days from @Settlement to @Maturity

Examples

SELECT wct.TBILLYIELD('2/1/2008', '6/1/2008', 98.75);

Here is the result set.

{"columns":[{"field":"column 1","headerClass":"ag-right-aligned-header","cellClass":"ag-right-aligned-cell"}],"rows":[{"column 1":"0.0376608431844335"}]}